Our Listings 我的房源

Back to Listings » Listing Details

522 Seventh Street in New Westminster: Uptown NW Office for sale

522 Seventh Street New Westminster : Uptown NW

Main Photo: 522 Seventh Street in New Westminster: Uptown NW Office for sale
$16,500,000
Prop. Type:
Commercial
Status:
Active
Must-See! This impressive freestanding office building spans approximately 25,183 sqft and is ideally situated on a generous lot of approximately 20,889 sqft in the heart of Uptown New Westminster. Its prime location on Seventh St, between 5th Ave and 6th Ave, places it just one block away from the bustling Royal City Centre. Surrounded by a vibrant array of retail establishments and office towers, this property enjoys excellent exposure. Under C-3 zoning and with a mixed-use high-rise Official Community Plan (OCP), this property holds immense potential. Moreover, the neighboring property, 616-640 Sixth Street, New Westminster, located across the road, has received conditional rental-market composition approval for a 7.41 floor area ratio (FAR) and is ready for demolition. This presents a remarkable opportunity for redevelopment. Currently, the building has long-term multiple tenants occupied, 0% vacancy, resulting in an approximate annual net income for 2022 of $350,000. This makes it an outstanding investment property with significant potential for future growth. Do not miss the chance to explore this property, as it offers an excellent investment opportunity with substantial redevelopment prospects. (NDA is required for more details)
Price:
$16,500,000
Property Type:
Commercial
Status:
Active
Listed by RE/MAX CITY REALTY
Data was last updated April 23, 2024 at 01:10 PM (UTC)
RAYMOND LEUNG

Service In
English, Mandarin, Cantonese

可提供
英语,普通话,广东话服务

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.